March 7, 2016 10:59 p.m. ET SHANGHAIExactly a year ago, Premier Li Keqiang set out the case for difficult industrial overhauls. This is not nail-clipping, he warned, its like taking a knife to ones own flesh. The comments recalled his fearsome predecessor Zhu Rongji who eliminated 30 million jobs practically in one go in a…
Steven Agran has been promoted to principal and shareholder at turnaround firm MorrisAnderson, and Mark Briden has been promoted to director. Mr. Agran, who is based in New York City, was previously managing director. He has experience leading restructurings, turnarounds and interim management projects for distressed companies in industries including trucking and food services. Chicago-based Mr. Briden, previously associate…
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here. Brooks Automation, Inc. (Nasdaq: BRKS) announced a restructuring today intended to streamline its business operations, advance its market responsiveness, and achieve approximately $15 million of annualized cost savings. As part of the restructuring, Brooks announced that it will be reorganizing its business…
Two companies which mislead nearly 100 firms into paying for services to challenge business rate valuations, have been ordered into liquidation. Harrison Black Associates, which was registered at 83 Ducie Street, Manchester, and its London branch, Hayden Moss Associates, were ordered into liquidation by the High Court on 1 March. The winding-up of the two…
A company in Manchester and another in London have been ordered into liquidation by the High Court for misleading almost 100 small businesses into paying for services to challenge business rate valuations. The winding-up of Harrison Black Associates Ltd and Hayden Moss Associates Ltd follows an investigation by the Insolvency Service, which found that the…
Clive Palmer says he has “saved the Yabulu refinery for a second time” after snatching control of the Townsville nickel plant from administrators. Key points: Palmer says Yabulu refinery “saved” after two companies join forces behind new manager Queensland Nickel Sales $23 million worth of assets to back manager Former manager Queensland Nickel still…
By Asma Chandani After a tumultuous Q1 for global stock markets, investors are increasingly seeking to take advantage of attractive valuations. Bolstered by strong macro fundamentals, the SENSEX closed on Friday with its highest weekly gain in seven years, and the NIFTY just shy of 7,450. Last week, Goldman Sachs reaffirmed its overweight position in…
Alberta has seen an 18.5% spike in personal insolvency over this last year. Thats according to Zaki Alam, a Senior VP with MNP Limited, where he specializes in consumer and corporate insolvency. Alam says a series of lay-offs in the oil-patch is much to blame, but the downturn in the price of oil has had…
Melbourne-based antipasto manufacturer Pronto e Fresco has entered voluntary administration. SmartCompany reports that Pronto e Fresco Pty Ltd has been operating for more than 15 years, supplying antipasto products such as semi-dried tomatoes, olives and grilled vegetables to major Australian supermarkets, wholesale and retail customers. Receivers and managers from McGrathNicol have commenced a sale campaign…
Alberta has seen an 18.5% spike in personal insolvency over this last year. Thats according to Zaki Alam, a Senior VP with MNP Limited, where he specializes in consumer and corporate insolvency. Alam says a series of lay-offs in the oil-patch is much to blame, but the downturn in the price of oil has had…